Incentives on the table for $60 million mixed-use project heading to Mansfield

Dallas Business Journal
By Spencer Brewer – Staff Writer, Dallas Business Journal
September 5, 2023

Welcome back to "On the Agenda," a column from the Dallas Business Journal that digs into city and county agendas and additional public meeting documents tied to North Texas to scout out new developments, corporate relocations, economic incentives and other items that might impact the business community. Tips for "On the Agenda" can be emailed to me at sbrewer@bizjournals.com.

A developer plans to bring a $60 million mixed-use project to Mansfield, and the city may support the project with a grant. 

Located south of the Julian apartment development near Toll Road 360, the project would feature multi-family residential, rowhouse, neighborhood-oriented commercial and civic space. Dubbed the Campbell Development, the site aims to create a mixed-use destination that is focused on distinct architecture and complimentary amenities, according to city documents. 

Developers M.R. Development Corp. and Carleton Development Ltd. are behind the site. The city may weigh an economic development and performance agreement for the project, per the most recent Mansfield Economic Development Corp. agenda. 

Because of the commercial development within the project, a portion of Harmon Road will require improvement to obtain a building permit. The cost of the road will range from $300,000 to $500,000 to construct. 

The Mansfield EDC Board met on June 27 in executive session and the board of directors gave staff direction to recommend a performance agreement with the developer to assist with the cost of the roadway improvements. 

Half of the grant will go out once vertical construction wraps up for the commercial portion of the development, while the other 50% will go out once the developer gets a certificate of occupancy for the commercial space. 

The total amount of the grant will be based on actual costs of the Harmon Road improvements, with a $323,400 cap.

Under the proposed agreement, the developer would have to make a capital investment of no less than $60 million for the project, including the commercial component. The developers would also have to obtain a certificate of occupancy for the commercial component no later than June 30, 2026. 

Additional cases of import are listed below. 

Mansfield is also weighing incentives for a new entertainment venue.

Mixed-use development in Arlington

A developer plans to bring a mixed-use development to Arlington, located directly west of City Hall along Abram Street. 

The forthcoming project would include a minimum of 160 residential units, a minimum of 40,000 square feet of commercial space to include office, retail, restaurant and personal services, as well as a minimum 300-space parking garage with 150 spaces dedicated for public parking, according to city documents. 

The city will consider a Chapter 380 grant to support the project. 

The developer, listed as TNC MAIN ST 1 LLC, plans to redevelop the surface parking lot to the west of City Hall along with two properties at the corner of Main Street and Oak Street. 

The proposed Tax Increment Reinvestment Zone Chapter 380 Grant Agreement provides the developer with funds to offset the costs of acquiring land, completing environmental remediation and demolishing structures. 

Per the agreement, the developer must close on the properties by Nov. 15 and complete construction by 2030, as well as meet additional requirements. The grants provide for $3,050,900 for the property acquisition costs and up to $416,438 for substantiated remediation and demolition costs. 

City estimates predict the development would add roughly $51 million in assessed property value on the site, as well as create nearly 100 jobs and generate an estimated $4 million in taxable sales annually.

Also in Arlington, Bridgeview Multifamily LLC plans to build an upscale apartment development after an off-market acquisition of a 6.3-acre tract at 800 West Bardin Road, where it will develop a 250-unit class A project.